Youve observed the following returns on SkyNet Data Corporations stock over the past five years: 14 percent, 9 percent, 16 percent, 21 percent, and 3 percent. Suppose the average inflation rate over this period was 3.5 percent, and the average T-bill rate over the period was 4.2 percent.

a.	What was the average real return on the stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Average real return

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